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Ok, for starters, gasoline prices. Bidens push for greener energy(and if you don’t see how gore, Kerry, and these others play into that, God help you) caused refineries to shut down or repurpose to greener energy-which has helped exactly no one with prices on heating, cooling, electricity, or anything-so what the fuck is the point or the upside for the average consumer?
The US has oil reserves that the government controls. Let’s face it, OPEC is out to fuck us and enrich themselves, so they keep output low and demand high. But the govt won’t release the reserves, have made refining oil more expensive and difficult, they shut down pipelines which further increased prices.
Coal is the cheapest, yet dirtiest source of electricity. As activists and green energy push for its extinction, prices go up.
Because there is pressure to cut down on coal mining, coal production is down. That is causing global markets in other areas ti cut back their production (thing like aluminum and steel) which is jacking up those prices.
Rather than sum up an article, her is some of it:
The Biden administration exacerbated the inflation of gas prices by both restricting the supply of oil and pressuring banks and asset managers to divest from traditional energy projects. The result of these flawed policies is weakened purchasing power for consumers and more reliance on foreign countries to keep the United States powered.
President Biden is restricting America’s ability to produce its own oil and is instead relying on foreign countries, some of which have governments run by totalitarian regimes, to produce more oil to lower gas prices. Biden’s decision to cut off avenues for more domestic supply of oil by canceling the Keystone XL pipeline and limiting exploration on federal lands and waters gives the Organization of the Petroleum Exporting Countries (OPEC) significant leverage over American energy consumption.
Sen. John Cornyn (R-Texas) hit the nail on the head by stating that, “begging the Saudis to increase production while the White House ties one hand behind the backs of American energy companies is pathetic and embarrassing.”
According to the Bureau of Labor Statistics, the Consumer Price Index for All Urban Consumers rose 6.2 percent from October 2020 to October 2021. Specifically, energy prices increased by 30 percent in the past year, “its largest 12-month increase since the period ending September 2005.” At the same time, gas prices rose 49.6 percent. Additionally, the Personal Consumption Expenditures Price Index rose by 5 percent from October 2020 to October 2021.
Inflation is eroding purchasing power for low-income households and the Biden administration is seeking to choke off capital to the oil and gas industry, limiting the United States’ energy supply.
In October, Blackstone CEO Stephen Schwarzman stated that part of the reason why energy prices are so high is that financing for fossil fuel companies is “almost impossible” to attain. Moreover, BlackRock CEO Larry Fink also admitted that policies that restrict the “supply of hydrocarbons has created energy inflation” and that it is not transitory — in fact, it may stick around for a long time.
Additionally, Christopher Wood, Global Head of Equity Strategy at Jeffries, told CNBC that the mismatch between demand and supply for energy could get worse. Wood states that the issue is the “oil price is gonna go higher in a fully reopened world because nobody’s investing in oil but the world still consumes fossil fuels.” Wood went so far as to say that in a “fully reopened world, the oil price could go to $150 dollars.”
The rise in prices can be attributed to political pressure from the administration to reel back oil and gas production. Wood claims that the “political attack” on oil and gas “has removed the incentive for investment in the sector despite its lingering importance.”
According to Western Energy Alliance President Kathleen Sgamma, oil and gas producers are unable to access capital, because the Biden administration is “putting so much pressure on banks not to lend to us in the name of climate change.”
Seeking green energy relies on mining cobalt in the Congo, which is dangerous. It leads to health issues and the unstable region has lots of violence, so the US and Europe aren’t buying cobalt from that region until the violence subsides, but this has made the violence worse.
Bottom line is that switching to green energy is expensive and will remain so for the foreseeable future. I am not saying that we shouldn’t do it at all, but I am saying that some of the people I listed in this thread are contributing to that push to green, expensive energy.
